Kentucky Retirement Systems Decreases Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Kentucky Retirement Systems decreased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,959 shares of the transportation company’s stock after selling 179 shares during the period. Kentucky Retirement Systems’ holdings in Old Dominion Freight Line were worth $2,286,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Flossbach Von Storch SE boosted its position in shares of Old Dominion Freight Line by 119.5% in the fourth quarter. Flossbach Von Storch SE now owns 362,706 shares of the transportation company’s stock worth $63,981,000 after buying an additional 197,461 shares during the period. Handelsbanken Fonder AB boosted its position in shares of Old Dominion Freight Line by 11.1% in the fourth quarter. Handelsbanken Fonder AB now owns 117,487 shares of the transportation company’s stock worth $20,725,000 after buying an additional 11,715 shares during the period. Freedom Day Solutions LLC boosted its position in shares of Old Dominion Freight Line by 11.2% in the fourth quarter. Freedom Day Solutions LLC now owns 11,014 shares of the transportation company’s stock worth $1,943,000 after buying an additional 1,108 shares during the period. Global Retirement Partners LLC boosted its holdings in Old Dominion Freight Line by 1.4% in the fourth quarter. Global Retirement Partners LLC now owns 6,067 shares of the transportation company’s stock valued at $1,070,000 after purchasing an additional 83 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its holdings in Old Dominion Freight Line by 22.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 1,360 shares of the transportation company’s stock valued at $240,000 after purchasing an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ODFL. Susquehanna reissued a “neutral” rating and issued a $195.00 price target (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Bank of America reduced their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Morgan Stanley increased their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Stifel Nicolaus increased their price target on Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Finally, Barclays reduced their price target on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $203.33.

Old Dominion Freight Line Stock Down 8.5 %

Shares of Old Dominion Freight Line stock opened at $180.40 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The business’s 50 day simple moving average is $188.96 and its 200-day simple moving average is $197.81. The stock has a market capitalization of $38.52 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is 18.98%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.